Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Portillo’s Inc. shares valued at $852,127 were sold by Waite Jill Francine on May 27. At $19.10 per share, Waite Jill Francine sold 44,614 shares. The insider’s holdings dropped to 21,900 shares worth approximately $0.56 million following the completion of this transaction.
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Also, Scarpino Nicholas Anthony sold 65,506 shares, netting a total of over 1,204,977 in proceeds. Following the sale of shares at $18.39 each, the insider now holds 10,700 shares.
As published in their initiating research note from Morgan Stanley on June 28, 2022, Portillo’s Inc. [PTLO] has been an Equal-weight and the price target has been revised to $19. This represents a -35.74% premium over Thursday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of November 15, 2021, William Blair has initiated its “an Outperform” rating for PTLO. Earlier on November 15, 2021, UBS initiated its rating. Their recommendation was “a Neutral” for PTLO stock.
Analyzing PTLO’s Price Performance
On Thursday, Portillo’s Inc. [NASDAQ: PTLO] rose 6.75% to $25.79. The stock’s lowest price that day was $22.13, but it reached a high of $25.87 in the same session. During the last five days, there has been a surge of approximately 14.72%. Over the course of the year, Portillo’s Inc. shares have dropped approximately -31.30%. Nevertheless, trading volume fell to 1.2 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for Portillo’s Inc. (PTLO)
According to the 24-hour chart, there is a support level at 23.32, which, if violated, would cause prices to drop to 20.86. In the upper region, resistance lies at 27.06. The next price resistance is at 28.34. RSI (Relative Strength Index) is 75.36 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.24, which suggests the price will increase in the coming days. Percent R is at 1.25%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Portillo’s Inc. subject to short interest?
Stocks of Portillo’s Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.15 million shares to 4.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.0 million shares. A decline of -3.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.84 of the overall float, the days-to-cover ratio (short ratio) decline to 10.84.
Which companies own the most shares of Portillo’s Inc. (PTLO)?
According to Select Equity Group LP filings, the company currently owns 1,949,925 shares, which is about 5.44% of the total PTLO shares outstanding. The investor’s shares have plunged by -420,931 from its previous 13-F filing of 2370856.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $29,267,824. Janus Henderson Investors US LLC acquire a 84.26% interest valued at $26.84 million while BlackRock Fund Advisors sold a -48,233 stake. A total of 559,494 shares of Portillo’s Inc. were sold by Franklin Advisers, Inc. during the quarter, and 61,728 were bought by Principal Global Investors LLC. In its current portfolio, Sirios Capital Management LP holds 588,204 shares valued at $9.62 million.
In terms of Portillo’s Inc. share price expectations, FactSet research, analysts set an average price target of $29.00 in the next 12 months, up nearly 1.41% from the previous closing price of $24.16. Analysts anticipate Portillo’s Inc. stock to reach $44.00 by 2022, with the lowest price target being $19.00. In spite of this, 9 analysts ranked Portillo’s Inc. stock as an Overweight at the end of 2022. On November 15, 2021, Stifel assigned a price target of “a Hold” to the stock and initiated coverage with a $45.